Spintronics Market Size

Spintronics Market Overview

The spintronics market size is expected to reach USD 967.8 Million by the end of the Spintronics Market Forecast in 2032, registering a CAGR of 5.3% during the forecast period. Spintronics (spin electronics) is the study of the inherent spin of electrons and their associated magnetic moment in solid-state devices, in addition to a fundamental electrical charge. In the realm of mass storage, spintronic devices are used. 

It is used to compress large amounts of data into a small space; for example, a single-sided 3.5′′ diameter disc can hold around one trillion bits per square inch (1.5 Gbit/mm2) or roughly one terabyte of data. The giant-magneto resistive (GMR) sandwich structure, which comprises alternating ferromagnetic and non-magnetic metal layers, aids in the creation of a prototype device that is utilized in the industry and Spintronics Market Growth as a read head and a memory-storage cell. 

The device resistance varies from tiny (parallel magnetizations) to big (multiple magnetizations) depending on the relative orientation of the magnetizations in the magnetic layers (antiparallel magnetizations). In general, spintronic technology has promise for digital electronics. It's been put to the test in mass-storage components like hard drives.

The latest spintronics advancements are based on nanometric thin film structures with perpendicular magnetic anisotropy, in which spin currents are used to change the magnetization of a magnetic layer. This effect is known as spin-orbit torque (SOT), and it can be enhanced by designing multilayer stacks with alternated magnetic and non-magnetic metals.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

COVID 19 Analysis

The spintronics market is still in its early stages, with a large amount of the market reliant on research and technological advancements. Furthermore, the supply side of the market was impacted during COVID-19's initial phase due to worldwide lockdown and plant closures. The scenario, on the other hand, broadened the area of the market examined, as businesses such as data centers and cloud computing saw enormous increases in Spintronics Market Share, Spintronics Market Growth, demand, and usage during the Spintronics Market Analysis.

Spintronics Market Dynamics

Market Drivers

Many key participants in the industry (Samsung, INTEL, TSMC, Global Foundries) have launched industrial production of a new type of magnetic memory - MRAMs - in recent years, giving spintronics a boost in the microelectronics market (Magnetic Random Access Memory). Controlling the spin of electrons over long distances was difficult for the industry since individual electron spins can be coherently moved over a distance of 5 m. Integrated spintronics products have applications in electric vehicles, MRAM, industrial motors, and data storage, among other end-users covered during the Spintronics Market Analysis.

Market Restraints

Although extensive experimental attempts have been made to control electron displacement across great distances, preserving electron spin coherence after transfer remains a challenge. Spintronic devices, such as magnetic tunnel junctions, now face challenges such as low working temperatures and material selection constraints. To overcome these limitations, organizations like EURAMET have launched new research and development initiatives. Spintronics technology, in practice, can combine the fundamental parts of magnetic storage devices with modern semiconductor microelectronics or nanoelectronics on a single chip during the Spintronics Market Forecast.

Technology Analysis

Spintronics is a new technology that is now being used in hard discs and sensors. Magnetic RAM is a next-generation spintronics device that uses the electron spin rather than its charge. Spintronics is defined as spin-based electronics in technical terms. The primary idea is to employ the electrons' spin rather than their charge, as well as the magnetic moment associated with it. This technology exemplifies a breakthrough that can be used on hard drives as well as digital devices. Its use allows for faster data transport, more computing power, and more memory, all of which will benefit expanding electronics markets. 

In comparison to other technologies, the spintronics market is still in its early stages; however, it is predicted to eliminate existing memory storage devices, resulting in energy-efficient processors and changing the architecture of future memory-storage devices, thus increasing the Spintronics Market Size and Spintronics Market Share. With this new technology, the electronics sector is projected to be transformed. MRAM technology is being developed by some international corporations to boost the efficiency and speed of memory storage devices. Magnetic sensors, spintronics couplers, and MRAMs are among the uses of spintronics technology.

Spintronics Market Segment Overview

The Spintronics Market Report has been bifurcated into various segments that will help the market to achieve the highest CAGR during the forecast period. The market segments are as follows:

Spintronics Type Outlook

• Metal-based devices


• Giant magneto resistance-based device (GMR)


• Tunnel magneto resistance-based device (TMR)


• Spin-transfer torque device


• Spin-wave logic device


• Semiconductor-based devices


• Spin diode


• Spin filter


• A spin field-effect transistor (FET)

Spintronics Application Outlook

• Electric vehicles


• Industrial motors


• Data storage


• Magnetic random access memory (MRAM)


• Semiconductor lasers


• Spintronics couplers


• Magnetic sensing


• Others

Spintronics Regional Outlook

• North America


• Europe


• Asia-Pacific


• The rest of the world

Regional Classification

North America has led the worldwide Spintronics Market and is projected to continue to do so for the foreseeable future because of the presence of various Spintronics Market Key Players. The area of Asia-Pacific, on the other hand, is predicted to develop at the fastest rate during the forecast period. The growing demand for faster data transmission speeds and larger storage capacities is likely to propel the Spintronics Market in this area forward. 

Because of the high degree of research done by regional enterprises in the spintronics market and the increasing adoption of the technologies among regional end-user industries, North America is one of the leading investors and adopters of the researched industry. The majority of the spintronics market's primary end-user industries are rapidly developing in the region, allowing the market's vendors to expand significantly.

Spintronics Market Key Player & Competitive Landscape

The Global Spintronics Market is characterized by high levels of competition, minimal product differentiation, and gradually increasing levels of product penetration. Innovation is critical to gaining a competitive advantage. As a result, competitive rivalry is intense. These companies place a premium on innovation and, as a result, invest heavily in research and development to offer a cost-effective product portfolio. There have been recent mergers and acquisitions among the major players, a tactic used by businesses to expand their consumer base. The major Spintronics Market Key Players are as follows:

• NVE Corporation


• Everspin Technologies Inc.


• Crocus Technology Inc.


• Synopsys (QuantumWise)


• Spin Memory Inc.


• IBM Corporation


• Plures Technologies


• Organic Spintronics


• Intel Corporation, 


• Rhomap Ltd.


• Advanced Micro Sensors Inc.


• Advanced MicroSensors Corporation


• Atomistix A/S


• Freescale Semiconductor, Inc.


• Grandis, Spindeco


• Spintronics-Info


• Avalanche Technology

Spintronics Industry Developments

NVE Corporation:

• September 20, 2023: NVE announced a strategic partnership with Avalanche Technology to develop and commercialize next-generation MRAM solutions. 


• October 26, 2023: NVE announced the release of its MRAM X2 product line, offering higher density and performance than previous generations.


• February 1, 2024: NVE reported Q4 2023 financial results, with revenue exceeding analyst expectations.

Everspin Technologies Inc.:

• November 15, 2023: Everspin announced a collaboration with IBM to develop and commercialize high-performance MRAM solutions for AI and machine learning applications.


• December 12, 2023: Everspin announced the expansion of its manufacturing capacity to meet growing demand for MRAM products. 


• January 23, 2024: Everspin presented its latest MRAM technology advancements at the International Solid-State Circuits Conference (ISSCC).

Report Overview

The study examines the global wireless power market's driving forces, limitations, and opportunities, as well as industry trends and critical success criteria. The research also contains qualitative market analysis, which includes a full demand and capacity analysis of the wireless power industry, and market investment analysis. All significant corporations and research organizations operating in this subject are profiled in the paper. It shows the competitive landscape of the major businesses, as well as all of their significant growth initiatives. The research also examines the market's complete value chain, as well as industry trends in wireless power, with a focus on market timelines and technology roadmaps, as well as market and product life cycle analysis. 

The spintronics market is segmented into different types of technologies, existing and future applications, and geographic markets, according to the report. It also includes revenue forecasts as well as market trend analysis. In addition, the application section has been divided into subcategories to provide more in-depth coverage. The geographical study includes a detailed classification for the Americas (North and Latin America), Asia-Pacific, and Europe, which includes the major countries that make up the market. ROW has also been assigned to the Middle East and Africa.